February 22, 2011

SPX Chart analysis

SPX HOUR CHART
SPX DAILY CHART
  • Price in hour chart has fallen below its 50 hour moving average and the cloud.
  • If price sustains below the cloud we may get a sell on rise market soon.
  • But Price in daily chart is moving towards its 20 day moving average which may act as a support level. Market too looks oversold so we may get a bounce from this level. 
  • Bears will be stronger only below the 20 day moving average.
  • ES FIBONACCI LEVELS

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